Swaziland, is a sovereign
state in Southern
Africa and thanks to the internet, you can
find easy ways of transferring money to this country. We shall go in-depth on
how that happens, plus any other related information.
Best ways to make a money
When you consider
about sending money from your country to Swaziland, your first instincts might be
going to the bank but the average fees charged by these banks for international money transfers are
expensive. Currently, there are other options for transferring money without
using banking services.
Types of options to send
If you use
an online site, just enter the amount you want to send, choose a currency,
payment and delivery method.
You may send cash but this can be complicated.
The recipient of the check may also have to pay a fee for cashing it and cover
the exchange rate to have the funds exchanged into the local currency.
Restrictions on receiving or
There are no limitations on
the inflow or outflow of funds for remittances. Swaziland handles three types
of international currencies: the U.S Dollar, the Euro and the Sterling Pound.
If a resident of the country
requires a foreign currency, this person must apply through an authorized
dealer to obtain foreign currency. Swaziland is a
member of â€Žthe Eastern and Southern Africa Anti-Money Laundering Group
(ESAAMLG), the assessment of the implementation of anti-money laundering and
counter-terrorist financing (AML/CFT) measures in the country was conducted by
of sending money
You can use
online sites that offer easy ways to send or receive money through currency
converters. Just choose the service that suits you best and create an account
to begin the transfer process.
services have a currency converter that calculates the exact amount of
lilangeni you can transfer or receive. You can enter the amount of money in
your currency and the service will indicate the equivalent in lilangeni.
Brief economic trend
With a GDP
per capita of $3,000, Swaziland is a lower middle-income country. The Lilangeni
is pegged at par with the South African rand and the exchange rates depend on
the monetary policy of South Africa.
The only banks authorized to
provide you the international transfers service are those designated by the
government and authorized dealers in Swaziland are the First National Bank of
Swaziland (FNB), Nedbank, Standard Bank, and Swazi Bank.
Don't wait for the banks in Swaziland?
Anyone who has used a bank to transfer money to Swaziland will know that it can be five days before their recipient can access their money. If a family member is having a financial crisis this is usually far too long for them to wait. So instead of waiting for the banks to process the transaction why not arrange an online currency transfer to Swaziland today?
Find out the currency rate in Swaziland?
At the time of your transfer you will be asked which currency you wish to send. When you are arranging a money transfer to Swaziland you will need to send the Lilangeni (SZL) to your recipient. The South African rand is also accepted in Swaziland so if you already live in South Africa you will not have to find out the currency rate Swaziland money is being exchanged for. However if you are living outside of South Africa you should do this prior to transferring your money.
Send your money to Swaziland?
When the time comes to send your money you will find that setting up a currency transfer to Swaziland is very easy. When you do this through an online exchange broker all of the stress is taken out of the process for you. Just log into your online account and set up the transfer using just a few clicks. You can then sit back and relax in the knowledge that in a matter of moments of your recipient will have their money and you will have completed a safe transaction.